Lot 3 Leasehold Residential Investment In High Street LocationAuction Date:
20th September 2023
First & Second Floors, 314 High Street, Orpington, Kent, BR6 0NG
Currently let at £10,500 per annum
Situated above commercial premises, this residential investment comprises a leasehold interest of two flats, one sold off on a sub-lease where ground rent income is generated and the other is let on an Assured Shorthold Tenancy. The High Street position offers immediate access to convenient shopping and public transport. Access to the flats are from the rear of the parade, in Augustus Lane, which is a one-way street.
Top Floor Flat
314B High Street
Separate entrance door, with stairwell leading to living room, kitchen area, bedroom, bathroom with W.C. The property has double glazing and gas heating.
Council Tax Band B
Tenancy
The property is let on an Assured Shorthold Tenancy Agreement from the 22nd February 2022 and presently holding over on a month to month basis as a periodic tenancy, at a current rent of £875.00 per calendar month.
First Floor Flat - 314A High Street
Tenure
Sold off on a sub-lease for a term of 99 years (less three days) from 25th March 2001 at a current ground rent payable to the head-lessee of £150 per annum, rising. The flat forms part of the original lease that was granted in 2001.
Tenure
Leasehold, subject to the sub-lease of the first floor and the occupation of an Assured Shorthold Tenant of the second floor.
Both residential upper parts are held overall on the remainder of a 99-year lease from 25th March 2001. Flat addressed as 314B High Street is subject to a current ground rental payable to the freeholder of £100 per annum, rising.
There is an addendum available to be read
in conjunction with the legal documentation.
Important
All lots are sold subject to the Common Auction Conditions and Special Conditions of Sale (unless varied by the Sellers Solicitors), together with the Addendum, which will be available on Auction Day.
* Price Information
Guides are provided as an indication of each Seller’s minimum expectation. They are not necessarily figures at which a property will sell for and may change at any time prior to Auction. Unless stated otherwise, each Lot will be offered subject to a reserve (a figure below which the Auctioneer cannot sell the Lot during the Auction).
We expect the reserve will be set within the guide range or no more than 10% above a single figure guide. Please check our website regularly at cliveemson.co.uk, or contact us on 01622 608400, in order to stay fully informed with the up-to-date information.
Additional Fees
An Administration fee and Other non-optional fees may also be payable in addition to the bid price. All lots are offered subject to the Common Auction Conditions and Special Conditions of Sale or Revised Special Conditions of Sale (as applicable) and may include the repayment of search and other fees and or costs payable by the buyer.
All buyers are advised to inspect all available legal documentation prior to bidding and will be deemed to fully understand what they may be liable for if they are successful in purchasing. This should also include Stamp Duty, Land Registry fees and VAT which may become payable on completion in line with any property transaction, whether it is by auction or private treaty. If, as a buyer, you are in doubt you should seek advice from your own professional advisors. For more information on fees please go to Buyers Fees
